Download: Kurdistan–Oil and Gas land of opportunity ?
With over 50 billion barrels of oil and gas (according to the US Geological Society), underexplored acreage and a success rate of over 70 per cent, it is no wonder that the Kurdistan Region of Iraq is attracting oil and gas investor interest.
Indeed the region has less than 2 per cent of all wells drilled in the North Sea.
Add in attractive production sharing contracts and a reasonably low cost environment and the investment case seems compelling.
However, some investors are not yet in receipt of payments and the legal and political risks associated with the Kurdistan Region of Iraq are little understood by those working outside the region. This report outlines the pros and cons of reaping rewards from the oil and gas resources in Kurdistan.